HomeMy Public PortalAboutr 07:290
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No. _
07-290',
DaLe of Adoption Nov811ber 29 r 2007-
RESOLUTION OF THE BOROUGH OF CARTERET
DESIGNATING CARTERET GATEWAY, LLC AS
REDEVELOPER OF A PORTION OF THE WEST CARTERET
COMMERCIAL REDEVELOPMENT AREA AND AUTHORIZING
THE EXECUTION AND DELIVERY OF A REDEVELOPMENT
AGREEMENT
WHEREAS, the Local Redevelopment and Housing Law, N,I.S.A. 40A:12A-let
seq" as amended and supplemented (the ''Redevelopment Law'~) provides a process for
municipalities to participate in the redevelopment and improvement of areas in need of
redevelopment; and
\VHEREAS, in-accordance with the Local Redevelopment and Housing Law,
N.I.S.A. 40A:12Acl et seq. (the ''Redevelopment Law"), the Borough of Carteret (the
"Borough") decl~red that certain property comprising Block 372, Lots 1 through 17 and
the Germak Drive' Right of Way as an area in need of redevelopment (coltectively, the
''Redevelopment Are~"); and
,
WHEREAS, the Borough adopted a redevelopment plan for the Redevelopment
Area (the "Redevelopment'Plan"), which shalt control the redevelopment of the
properties located therein; and
WHEREAS, in the spring of 2006 the Borough issued a Request for
Qualifications (the ''RFQ'') seeking a qualified redeveloper for the Redevelopment Area;
and
......
WHEREAS, On May 26, 2006, Carteret Gateway, LLC (the, '~Redeveloper")
responded to the RFQ; and
WHEREAS, on November 11, 2006, the Borough entered into a Pre-
Development Agreement with the Redeveloper; and
WHEREAS, the Borough has negotiated a redeveloPJllent agreement with the
Redeveloper (attached hereto as Exhibit A in substantially [mal form) with the respect to
the redevelopment of a portion of the Redevelopment Area defined in the Redevelopment
Agreement- as the.Project Area; and
NOW, THEREFORE, BE IT RESOLVED as follows:
Section L The Redevelopment Agreement is hereby authorized to be
executed and delivered on behalf of the Borough by either the Mayor or the Chief'
Financial Officer in substantially the form attached hereto as Exhibit A, ,with such
changes as the Mayor or the Chief Financial Officer (c.ach an UAuthorized Officer~')f in
their respective sole discretion, after consultation with such counsel and any advisors to
the Borough (collectively, the "Borough Consultants"), as such Authorized Officer deems
necessary, desirable or convenient in such Authorized Officer's sole discretion. All
-actions of the Authorized Officers and the Borough Consultants taken prior to the date of
adoption hereof in cormection with the Redevelopment _ Area, including without
limi!ation, the Redevelopment Agreement, are hereby ratified and approved.
\
Section 2. The Borough Clerk, or the Deputy Borough Clerk, is hereby
authorized and directed, upon the execution. of the Redevelopment Agre-ement - in
accordance with the terms of Section] hereof, to attest to the Authorized Officer's
execution of the Redevelopment Agreement and is hereby further authorized and directed
to thereupon affix the seal of the Borough to the Redevelopment Agreement.
Section 3. Upon the execution and attestation of and if required, the placing
of the seal of the Borough on the Redevelopment Agreement as contemplated by Sections
1 and 2 hereof, the Authorized Officer is hereby" authorized and directed to (i) deliver
such fully executed, attested and sealed Redevelopment Agreement to the Redeveloper
and (ii) perform such other actions as the Authorized Officer deems necessary, desirable
or convenient in relation to the execution and delivery thereof.
"
NO, 07-'90
PAGE 2
Section 4. The Authorized Officers are each hereby further authorized to
perform any act, execute or acknowledge and deliver any other document, instrument or
certificate, which the Authorized Officer, aft~r consultation with the Borough
Consultants, deems necessary, desirable or convenient in. cOImection with the
Redevelopment Agreement, and the Borough Clerk, or Deputy Borough Clerk, is hereby
further authorized and directed to attest to such execution or acknowledgement and to
affix the seal of the Borough to any such document, instrument or ,certificate.
SectionS. Upon the. ,Redeveloper's execution and delivery 6f the
Redevelopment Agreement, the Redeveloper shalt be hereby deemed as the redeveloper
of the Project Area, as such term is defined in the Redevelopment Agreement, for all
purposes oflaw. -
Section 6. This resolution shall take effect at the time and in the manner
prescribed by law.
Section 7. Upon the adoption hereof, the Borough Cle,k shall forward
certified copies of this resolution to Matthew C. Karrenberg, Esq., DeCotiis, FitzPatrick,
Cole & Wisler, LLP, Special Redevelopment Counsel to the Borough. '
Adopted this 29th day of November, 2007
and certified as a true copy of
the original on November 30, . 2007.
KA'ffiLEI'}q M. BARNJi,Y, tttC
Municipal Clerk
\
COUNCILMAN
RECORD OF COUNCIL VOTE
YES NO NV A.B, COUNCILMAN
YES NO NV A.B.
BELLINO
01 Z
KR
x
x
x _ Indicate Vote An + Absent NV ~ Not Voting XOR + Indiratc.s VOle 10 Overrule Yew
Adopted at a meetiflg of the Municipal Council
EXHIBIT A
REDEVELOPMENT AGREEMENT
3